PDSB - PDS Biotech shares surge after receiving $60M funding for COVID-19 vaccine trial in Brazil

PDS Biotechnology's (PDSB) COVID-19 vaccine consortium has received a commitment from the Secretary for Research and Scientific Training of the Ministry of Science, Technology and Innovation of Brazil ((MCTI)) to fund up to ~$60M to support the development and commercialization of Versamune-based, second generation COVID-19 vaccine in Brazil.The consortium consists of PDS Biotech, Farmacore Biotechnology and Blanver Farmoquímica.MCTI intends to start making the funds available to prepare for combined Phase 1/2 clinical trial, upon authorization by the Brazilian regulatory agency, to initiate Versamune-based COVID-19 vaccine clinical program. The pre-IMPD package is currently under review by Anvisa and the trial is anticipated to begin by Q2/3 2021.The majority of the capital will fund the manufacturing process scale up, production and the Phase 3 trial, pending the results of the Phase 1/2 trial. The Phase 1 and 2 trials, which will run together, are anticipated to enroll ~360 patients and will assess

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PDS Biotech shares surge after receiving $60M funding for COVID-19 vaccine trial in Brazil